What is Tuition Reimbursement?
Just as it sounds, tuition reimbursement is something that many employers offer as a way to pay back employees for education expenses. Those who choose to participate still have to pay out of pocket for the courses they take. When the course is over, the employee can get back some or all of the tuition expenses. At some institutions, students with financial constraints may qualify to defer payment until their coursework is complete.
Some employers choose to go above and beyond tuition alone, and reimburse other expenses associated with higher education. The program my company offers not only covers my tuition, but also covers the cost of my books and my Internet connection, as long as I can prove that at least one course I am enrolled in is online or “web-assisted,” meaning some coursework takes place over the web.
Is There a Catch?
Depending on the employer, conditions for reimbursement may apply. Luckily, dealing with tuition reimbursement guidelines is not quite as difficult as dealing with an insurance company or trying to redeem a store rebate. Most often, the conditions are easy to satisfy.
- Condition 1: Program of Study
- Condition 2: Cost
- Condition 3: Grade Point
What Does the Employer Get by Offering Tuition Reimbursement Benefits?
- Smarter Employees
- Tax Breaks
View this article by Money Crashers for more information on the Many Benefits of an Employer Tuition Reimbursement Program & Policy.
Northwood University Partnership:
The Michigan Chamber has partnered with Northwood University to help educate future business leaders on Michigan’s business climate. This two-fold partnership offers a $1,000 scholarship for eligible Northwood University students and a free student membership to all enrolled Northwood students. View the Northwood University Partnership webpage for more information.